update ...

I mentioned earlier on an LRC thread that Tweety & Co. would be contacting the Company for a better understanding of the option to acquire Arqueros.

The Company has agreed to purchase the Arqueros Project in Chile where the MD has mining experience. The sales agreement contains a progressive series of 3 payments, at which time title then transfers to Laguna. I believe the 3 payments consist of $100,000 (paid) as the 1st payment; $200,000 (unpaid) as the 2nd payment; and $2m (unpaid) as the 3rd & final payment when the title will be transferred.

Whilst LRC is in a position to make the last 2 payments now, I further believe that the Company is better utilising these funds to prove up a maiden JORC and to prepare the site for actual mining - there is no way LRC will be walking away from this one from what I understand (lol)!

A maiden JORC will be published some time "soon" (November???) and will include historical data from previous mining as well as recent drills; and as all maiden JORC's go, it will probably give the Company a strong base of support on which to build upon imo.

Cheers, Pie (: